Washington ’ s economy is supported by small businesses , and it was small business that pulled the state through difficult economic times . According to the Brookings Institution , the nation ’ s small business sector is one of the great strengths of the U . S . economy , historically accounting for 64 percent of net new jobs . New and young small businesses have generated 40 million jobs in the past 25 years , representing 20 percent of gross job creation . new and young small businesses have generated
40 million u . s . jobs in the past 25 years
According to 2013 data , small businesses in Washington state numbered 555,285 , or 98 percent of all businesses . They employed 1.3 million workers or 51.7 percent of the state ’ s workforce . There was a net 43,690 new jobs created by small businesses and , as the most trade dependent state in the country , Washington ’ s small employers make up 89.9 percent of all exporters in the state . A robust 20.4 percent of the state ’ s workforce is employed by firms with fewer than 20 employees . ( Source : Small Business Administration ) historically , small businesses account for 64 % of net new jobs .
Source : The Brookings Institution more than of the state ’ s
20 % workforce is employed by firms with fewer than 20 employees .
Highest Percentage of Small Establishments Surviving from 2013-14
Washington |
87.4 % |
Delaware |
84.7 % |
Wisconsin |
83.1 % |
Connecticut |
82.1 % |
Utah |
81.8 % |
South Carolina * |
81.5 % |
Massachusetts * |
81.5 % |
New York |
80.7 % |
Texas * |
80.6 % |
South Dakota * |
80.6 % |
* Indicates a tie
It is important to note that small businesses accounted for 63.3 percent of net new jobs from the third quarter of 1992 until the third quarter of 2013 . This review of our 2016 small business listening tour underscores the importance of small business to our state ’ s economy and the struggles the state ’ s smallest operators are encountering that prevent them from growing and retaining jobs . Our state ’ s diverse industry portfolio , led by professional , scientific and technical services , underscores the state ’ s attitude of entrepreneurship and innovation .
As the state ’ s chamber of commerce representing nearly 7,000 employers , the Association of Washington Business ( AWB ) works to ensure the state supports the needs of industry . Washington state ’ s business climate , workforce training needs and business expansion are just a few of the issues AWB addresses through its advocacy work and as a representative on state-level boards and organizations .